It wants to attract the “full spectrum” of digital asset investors
It was Robinhood It has been around for more than a decade, and its entry into the world of cryptocurrencies is not necessarily new; However, the company is still trying to expand its efforts there — even in groups that have typically deviated from the platform.
“I believe cryptocurrencies have always been made by very technical people and for technical people,” Johan Kerbrat, managing director of crypto at Robinhood, said on the website. Chain Reaction Podcast. “At the end of the day, I think customers, when they use cryptocurrencies, they don’t really care what protocol is underneath it? What network are you using? They just want it to work.”
While this may be true for novice cryptocurrency investors — the app has done a good job of qualifying that group by providing educational resources — it now wants to focus on everyone, even those who… Do Pay attention to basic protocols. Robinhood users can do more technical things like transfer to its cryptocurrency wallet and use “advanced automated charts and models where you can, for example, place a stop loss,” Kerbrat said.
The platform may not be as high-tech as a cryptocurrency-focused one, but Robinhood does research to understand what customers want and what they’re missing.
Despite having plans for growth, Robinhood appears to have been hesitant about its stance in the digital asset space. In June, the app chose to limit trading and reserve some cryptocurrencies for US customers, at a time when the US government was cracking down on major industrial exchanges such as Binance and Coinbase. However, the platform remains so 14 cryptocurrencies and 1 stablecoinUSDC, is available for users to buy and sell.